Talking about learning the mechanics, wallets, backups, encryptions… all that might be a lot for someone to fully grasps before they can start investing. You don’t really need to know all that by my standing, you just need to know enough to not get scammed and be able to secure your bought coins.
Taking actions like reducing your position in a price drop wouldn’t matter much to a holder using DCA, rather it should be a signal to buy more.
Bitcoin with private keys gives people chance of having their own banks by using Bitcoin non-custodial wallets, having private keys, and fully controlling their bitcoins. However, it does not only have such advantages but also have disadvantages such as you will lose your bitcoins if you lose either your wallet and wallet encrypted password, wallet mnemonic seed phrase, private keys. Because any people who have such information can unlock your Bitcoin wallets, or import wallet seed phrase or private key, then access your bitcoins and steal those coins.
Long term storage or short term storage, the principle is the same: secure your wallet, make wallet backups, store wallet backups rightly.
How to back up your Bitcoin wallet seed phrase?[Guide] How to create a strong/ secure password?Are your passwords in the green?
